Bangui, Central African Republic, September
17, 2015 — As part its efforts to re-engage with the Central African
Republic, IFC, a member of the World Bank Group, supported the organization
of a five-day national forum on private sector development presided over
by Catherine Samba-Panza, the country’s transitional Head of State.
Workshops during the forum focused on forestry, mining and agriculture
as key development sectors, and introduced a public-private partnership
(PPP) model to infrastructure development. Other key issues discussed included
taxation, investment incentives, women entrepreneurship, and inclusion
in the regional economy. A short film highlighted some investment opportunities
available in the country.
The World Bank Group’s Investment Climate Team highlighted areas measured
in the Doing Business report as an opportunity to improve the business
environment for small businesses, through growth-stimulating reforms. Small
businesses were particularly affected by the recent political and military
crisis in the Central African Republic (CAR)
Jean Christophe Carret, World Bank Country Manager for the CAR, said, “The
World Bank Group is open to re-engagement with key internal and external
stakeholders in the CAR to promote private sector-led growth through support
to the health and infrastructure sectors, including transport and energy.”
World Bank Country Director for the CAR, Paul Noumba Um, said, “Sustaining
the achieved rigor in public governance is key. Relentlessly supporting
and even accelerating public governance reforms will help control expenditures
and increase revenues. With support from IFC, re-establishing the public-private
sectors’ permanent consultative framework is one of the prime measures
to be taken in order to improve the investment climate.”
The forum’s 500 participants included cabinet members and senior government
officials, representatives of employers’ associations, civil society members,
women entrepreneurs, business managers from across the country, and international
business and development organizations. The forum’s goals included identifying
bottlenecks hindering the development of the private sector, and nurturing
a new economic development approach for the country.
IFC has previously worked with public and private sector partners in the
CAR to improve the investment climate and support small business growth,
particularly in and around the capital, Bangui. IFC was also engaged with
the country’s chamber of commerce, helping it build its capacity to serve
local businesses.
The forum was co-financed by IFC’s Conflict Affected States in Africa
Initiative (CASA), which is supporting private sector growth in nine fragile
countries in Africa, including in the CAR. CASA is supported by donor partners
Ireland, the Netherlands, and Norway.
About IFC
IFC, a member of the World Bank Group, is the largest global development
institution focused on the private sector in emerging markets. Working
with more than 2,000 businesses worldwide, we use our capital, expertise,
and influence, to create opportunity where it’s needed most. In FY15,
our long-term investments in developing countries rose to nearly $18 billion,
helping the private sector play an essential role in the global effort
to end extreme poverty and boost shared prosperity. For more information,
visit www.ifc.org